The shares of India’s largest solar manufacturer, specializing in solar energy, particularly solar module manufacturing, jumped by up to 4 percent upon receiving an international order to supply 540MW of solar modules from a leading U.S.-based developer and operator.
With a market capitalisation of Rs. 87,190.45 crores on Monday, the shares of Waaree Energies Limited jumped upto 4.1 percent, making a high of Rs. 3,070.00 per share compared to its previous closing price of Rs. 2,947.85 per share.
Waaree Energies Limited, through its wholly owned subsidiary Waaree Solar Americas, has received a major international order for the supply of 540MW of solar modules from a leading U.S.-based developer and operator of utility-scale solar and energy storage projects. The contract, which is a one-time order, will see the delivery of 270MW of modules in 2025 and another 270MW between 2027 and 2028.
Financials & Others
The company’s revenue rose by 37.6 percent from Rs. 3,007.44 crore to Rs. 4,140.92 crore in Q4FY24-25. Meanwhile, the Net profit rose from Rs. 461.52 crore to Rs. 618.91 crore during the same period.
The company’s P/E ratio stands at 45.27, which is attractively lower than the industry average of 63.82, indicating reasonable valuation. It also maintains a low debt-to-equity ratio of 0.13.
Additionally, the company has demonstrated good operational performance, with an average ROE of 26.17% and ROCE of 26.59% over the last three years. It’s impressive average three-year revenue growth of 58.65% and net profit growth of 151.98%.
As of March 2025, Waaree Energies Limited collectively has an order book of Rs. 47,000 Crores, with a ~15GW and 5.4GW Solar Module and Cell manufacturing capacity, with backward integration in progress for Ingots, wafers, and more, along with diversification into other product segments like BESS, Green Hydrogen, and others.
In FY24-25, India added ~24 GW of solar capacity, crossing the 100 GW milestone and reaching 105+ GW by January 2025, with a target of 280 GW by 2030. Waaree leads with a 14.1% share in module shipments, supported by strong policy initiatives like PM Suryaghar, Kusum Yojana, SECI tenders, and 16.5 GW in signed PPAs. Domestic manufacturing is growing, driven by ALMM and other incentives, with solar cell production expected to grow at over 30% CAGR.
Waaree Energies Limited is India’s largest manufacturer and exporter of solar photovoltaic (PV) modules. Founded in 1990 and headquartered in Mumbai, the company has expanded rapidly, operating several manufacturing facilities across Gujarat and Noida. It is recognized for its integrated approach, spanning the entire solar value chain, from ingots and wafers to modules, battery storage, and green hydrogen electrolysers.
Written by Sridhar J
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Solar stock jumps 4% after receiving order for solar modules from U.S.-based company appeared first on Trade Brains.